michael barr

More Top Obama Economic Aides to Step Down

Two of President Barack Obama%u2019s top economic advisers plan to quit. White House National Economic Council Deputy Director Diana Farrell and Treasury Department Assistant Secretary for Financial Institutions Michael Barr both plan to leave in the coming weeks, The Wall Street Journal reported.

Overhaul May Transform Mortgage Giants Fannie and Freddie

Mortgage finance giants Fannie Mae and Freddie Mac may not even exist in their current forms after a revamp of the U.S. housing finance system, Assistant Treasury Secretary Michael Barr said on Tuesday. Moreover, "private gains will no longer be subsidized by public losses," he said.